Proof of Stake

Bithumb, A Crypto Exchange Announces the Launch of Staking as a Service

Bithumb, a South Korean cryptocurrency exchange recently announced the launch of staking as a service on April 20, 2020. The launch will also recognize IOST as the first cryptocurrency available for staking on the trading platform.

Reportedly, with the debut of Bithumb as staking as a service with IOST, the exchange will offer rewards to the users who hold the digital assets. The event which is scheduled on April 20, 2020 will headstart the IOST airdrop event.

In the conference Bithumb talked about the airdrop event that the event will extend from April 16, 11 AM KST to April 17. Furthermore, the IOST payout will be based on the increased deposit amount of IOST token deposited by the users in the stipulated event time.

Moreover, the exchange also confirmed that in case if the user decides to withdraw their IOST token prior to the time of payment or during the time of notification, then the user will be skipped from the list of payment recipients. So there is no opportunity to play the mind game that has no chance to get success. Lastly, Bithumn makes a belief to the user that this event is safe and also encourages more users to participate and be a part of the mega event.

Due to the widespread COVID-10 pandemic, the global economy has completely dropped down to nothing. With the sudden crisis the existing businesses across industries are turning onto the make more developments and enhance bigger than ever from the crisis. The businesses have been down because of the sudden stop in the manufacturing industry. To predict the situation as earlier, it will take a complete year to settle the businesses and economy.

One of the popular analysts reported that Bithumb has released a new asset transfer service. This service introduces the feature of fast transfer speeds. The speed carries 10x faster calculated on blockchain withdrawls.

To enhance the security mechanism, Bithumb has to deal with blockchain analysis form Chainanalysis to include the investigation solution- Chainanalysis Reactor. Bithumb also released crypto margin trading services that enables users to trade digital assets including Ether (ETH), Bitcoin (BTC), and Tether (USDT).